Hancock Whitney Corp reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,506 shares of the company’s stock after selling 298 shares during the quarter. Hancock Whitney Corp’s holdings in McKesson were worth $387,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of McKesson by 173.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 520,286 shares of the company’s stock worth $69,016,000 after purchasing an additional 329,814 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of McKesson by 13.4% in the third quarter. Brown Advisory Inc. now owns 4,094 shares of the company’s stock valued at $543,000 after purchasing an additional 484 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of McKesson in the third quarter valued at approximately $6,679,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of McKesson in the third quarter valued at approximately $600,000. Finally, Ancora Advisors LLC lifted its holdings in McKesson by 269.4% during the third quarter. Ancora Advisors LLC now owns 17,008 shares of the company’s stock worth $2,257,000 after acquiring an additional 12,404 shares during the period. Institutional investors and hedge funds own 86.60% of the company’s stock.
In related news, EVP Lori A. Schechter sold 7,700 shares of the business’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $122.96, for a total transaction of $946,792.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $1,229,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.87% of the stock is currently owned by insiders.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, January 31st. The company reported $3.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.22. The company had revenue of $56.21 billion during the quarter, compared to analysts’ expectations of $55.27 billion. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. During the same period in the previous year, the business earned $3.41 earnings per share. On average, sell-side analysts predict that McKesson Co. will post 13.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, February 28th. McKesson’s dividend payout ratio (DPR) is presently 12.36%.
A number of analysts recently commented on MCK shares. Zacks Investment Research lowered McKesson from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 5th. Barclays restated a “hold” rating and issued a $124.00 target price on shares of McKesson in a research note on Sunday, January 6th. UBS Group began coverage on McKesson in a research note on Thursday, January 17th. They issued a “neutral” rating and a $134.00 target price on the stock. Finally, Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Friday, January 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $134.90.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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